November 2012

11/28/2012

Excellent and inspiring biography and full of excerpts from Faust's finest sermons.

James E. Faust was a son, brother, husband, father, lawyer, and politician. In his later years he was also a member of the Quorum of the Twelve Apostles of the Church of Jesus Christ of Latter Day Saints and then a member of the First Presidency of the Church until his death in 2007.

11/24/2012

When Paul William "Bear" Bryant died on January 26, 1983, it was the lead story on the all three networks' evening news. New York City newspapers reported his death on their front pages. ("Crimson Tears," read the headline in the New York Post, "Nation weeps over death of legendary Bear Bryant, 69.") Three days later, America watched in awe as an estimated quarter of a million mourners lined the fifty-five mile stretch from Tuscaloosa to a Birmingham cemetery to pay their respects as his three-mile long funeral cortege drove by.

President Reagan and the three former American presidents sent flowers, as did people as diverse as Bob Hope, ABC's Roone Arledge, advice columnist Ann Landers and the Reverend Billy Graham. Scores of Bryant's former players, including Joe Namath, Lee Roy Jordan, Ken Stabler and Ozzie Newsome, were in attendance. So were Bryant's most distinguished colleagues, the greatest living football coaches, including Southern Cal's John McKay, who said, "It was like a presidential funeral procession. No coach in America could have gotten that. No coach but him. But then, he wasn't just a coach. He was the coach."

Bryant's passing was noted with the kind of reverence our country reserved for statesmen or military leaders, though Paul "Bear" Bryant had insisted for much of his life that he was "just a football coach." For millions he was much more, he was the greatest coach the game ever saw, the heir to the tradition established by Knute Rockne. He took his Alabama Crimson Tide teams to an unmatched six national championships. But to the players, journalists and fans whose lives he touched in his more than half a century as a player and coach, he was the last symbol of values that transcended football—courage, discipline, loyalty, and hard work.

To his critics, Bryant represented the dark side of big-time college football—brutality, fanaticism and blind adherence to authority. The real Bear Bryant was far more complex than either his admirers or detractors knew. While maintaining a public friendship with Alabama governor George Wallace, he continually sought ways to undermine the governor's segregationist policies, finally forcing a legendary football game in Birmingham with the University of Southern California that opened the floodgates to the integration of football at the University of Alabama, including its coaching staff. Old fashioned in his politics, he was nonetheless an admirer of Robert Kennedy, whom he planning to vote for in 1968.

Allen Barra's The Last Coach traces Paul Bryant's rise from a family of truck farmers to recognition as the most successful and influential coach in the game's history. The eleventh of thirteen children, Bryant was born in tiny Moro Bottom, Arkansas in 1913 and grew up in nearby Fordyce—where his legend was born when he wrestled a live bear on the stage of a local theater. Paul was raised by his mother, who barely managed to keep him out of trouble and on the Fordyce High School Redbugs long enough to get a football scholarship at Alabama, where he would meet and marry the love of his life, campus beauty queen Mary Harmon Black.

At the height of the Depression, football took Bryant to the Rose Bowl with Alabama's 1934 national champions and on to a career as an assistant and, finally, a head football coach, where he matched wit and grit with the greatest coaches of two generations, men like Tennessee's General Robert Neyland, Oklahoma's Bud Wilkinson, Notre Dame's Ara Parseghian, Ohio State's Woody Hayes, and Penn State's Joe Paterno. Along the way, he stirred controversy with his infamous "Junction Boys" training camp in 1954, during which almost two-thirds of the Texas A&M football team quit; his legal battle with The Saturday Evening Post over the accusation that he had conspired to fix a college football game, a trial which rocked the sports world; and his pursuit of Amos Alonzo Stagg's all-time record for college coaching victories.

11/17/2012

On March 14, 2012, more than three million people read Greg Smith's Op-Ed in the New York Times titled "Why I Am Leaving Goldman Sachs." The column immediately went viral, became a worldwide trending topic on Twitter, and drew passionate responses from former Fed chairman Paul Volcker, legendary General Electric CEO Jack Welch, and New York City mayor Mike Bloomberg. Mostly, though, it hit a nerve among the general public who question the role of Wall Street in society -- and the callous "take-the-money-and-run" mentality that brought the world economy to its knees a few short years ago. Smith now picks up where his Op-Ed left off.

His story begins in the summer of 2000, when an idealistic 21-year-old arrives as an intern at Goldman Sachs and learns about the firm's Business Principle #1: Our clients' interests always come first. This remains Smith's mantra as he rises from intern to analyst to sales trader, with clients controlling assets of more than a trillion dollars.

From the shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the real estate boom; from the career lifeline he received from an NFL Hall of Famer during the bear market to the day Warren Buffett came to save Goldman Sachs from extinction-Smith will take the reader on his personal journey through the firm, and bring us inside the world's most powerful bank.

Smith describes detail how the most storied investment bank on Wall Street went from taking iconic companies like Ford, Sears, and Microsoft public to becoming a "vampire squid" that referred to its clients as "muppets" and paid the government a record half-billion dollars to settle SEC charges. He shows the evolution of Wall Street into an industry riddled with conflicts of interest and a profit-at-all-costs mentality: a perfectly rigged game at the expense of the economy and the society at large.

After conversations with nine Goldman Sachs partners over a twelve-month period proved fruitless, Smith came to believe that the only way the system would ever change was for an insider to finally speak out publicly. He walked away from his career and took matters into his own hands. This is his story.